Global Energy Development Share Discussion Threads

[foreverhoping] 18/1/2012 15:57

duplicate post

[fuiseog] 17/1/2012 20:46

foreverhoping,

I didn't mean to mislead, but I put in the 'imminent' myself, tongue in cheek. I don't know how to communicate a sense of irony, but I expect my expectations of imminemce may be a bit more immediate that those of GED.

[foreverhoping] 17/1/2012 14:38

hi fuiseog,

can i ask where you got the 'imminent' quote from?

in the rns, i note 'important' and 'progressing', but not 'imminent'. This of course would be great news

cheers

[fuiseog] 17/1/2012 13:37

Todays RNS suggests all is going well. It's surprising that it has not encouraged a bit more interest than the 1200 purchase so far today.

It's good to see progress this month with the free carried farm out in Peru confirmed and a h2 drill, and at least 300bopd from Torcas 5 'imminent'.

[foreverhoping] 17/1/2012 10:24

so, a bit longer than expected then? hardly surprising given that they are working with chops for the first time. i'd rather they didn't rush and get it right. should improve with experience.

[philo124] 17/1/2012 08:09

Thanks for post.

[doughboy66] 17/1/2012 08:06

Global Energy Development PLC

17 January 2012

Immediate Release 17January 2012

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company")

TORCAZ 5 PROGRESSING

Global Energy Development PLC, the Latin America focused petroleum exploitation, developmentand production company (AIM: GED) with properties in Colombia and Peru,is still progressing with itscold heavy oil production with sand("CHOPS") recompletion project on the Torcaz #5 well within its Bocachico Contract Area in the Middle Magdalena Valley of Colombia, South America.

Operations commenced in November 2011, and the Company successfully cleaned out the previously drilled Torcaz #5 wellbore by removing the original existing gravel pack.Aftereffectively completing the well clean-out, a bridge plug was then installed at a depth of 8,020 feet to shut off and isolate the Lower Esmeralda formation in order to control possible water influx. Additional perforations between 7,632 and 8,020 feet were then added in the Lower 'A' Mugrosa formation.

The Company is currently in the process of modifying the pump in order toattain optimum depth for the targeted Mugrosa perforations and optimum fluid level production to fit pump capabilities.

The Torcaz #5 was originally drilled in 1999 and previously tested at sustained rates of 300+ barrels of oil per day from the Mugrosa formation before sanding up using a conventional non-sand tolerant pump. Other operators in Colombia within the Middle Magdalena Valley are also producing oil out of the Mugrosa formation with estimated sand cuts of less than 5%.

Steve Voss, Managing Director, commented: "Weare learning a great deal duringthis first phase of the CHOPS test on Torcaz 5, and we are confident the mechanics of implementing CHOPS will be successfully achievedas we progress with industry consultants.We will continue to keep our shareholders apprised of our progress in this important project."

For further information please contact

Global Energy Development PLC

[john ford timmins] 10/1/2012 14:51

Just came across GED, they look particularly interesting



Global Energy Development to concentrate on Magdelena project as Peru farm-out gets sign-off, says broker

Latin America focused Global Energy Development (LON:GED) is free to concentrate its time and money on developing the Magdelena project in Colombia now that its Peruvian farm-out is complete, according to Northland Securities.
This morning the group confirmed that the Peruvian government has officially approved the farm-out of a 60 per cent stake in Block 95 to Gran Tierra Energy. The assets are found in the Marañon Basin of north-eastern Peru.
The deal was initially agreed with Gran Tierra in late 2010. The new partner will earn its 60 per cent stake in the licence by covering all the costs of an exploration well, up to a maximum of US$15 million.
Gran Tierra plan to drill the well in the second half of this year.
"This is a positive low-risk development for Global, which allows it to concentrate on its core Columbian portfolio," said Northland analyst Andrew McGeary.
He added: "(It) leaves Global free to concentrate its cash resources on developing its substantial portfolio and, in particular, to monetise the Magdalena assets."
The analyst also said that Global has one of the largest P2 reserves on the AIM market as well as one of the lowest per-barrel valuations, at only 50 cents a barrel compared to an average of around US$9.
"We believe a re-rating is possible on the basis of the successful development of the Magdalena portfolio following the recently announced strategy to focus on developing those assets," McGeary added.
This morning Global shares were up 2p, or 1.95 per cent, trading at 104p.

[lowflow] 05/1/2012 22:04

When do you guys think we will get an update on the test of the Torcaz-5 well? What is the probability that the test turns out positive?

Thanks

[foreverhoping] 03/1/2012 09:41

have bought some this morning. should start to see some upward movement shortly imho

[flyingbull] 01/1/2012 22:59

Hopefully favourable production results for GED will continue.....

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[nils214] 27/12/2011 11:14

one to watch for drilling results in Colombia

[goosegreen] 20/12/2011 16:47

I would like good some news before Christmas please!!

Jon

[philo124] 15/12/2011 09:16

Useful RNS.

[doughboy66] 01/12/2011 16:32

Nice little rise late on surely we are due some news?

[foreverhoping] 29/11/2011 14:39

some share price fall is hardly surprising considering strong rise, but upward trend should continue as news comes through shortly.

[doughboy66] 29/11/2011 07:59

Oh well its changed to this now.

Stock Trading Conclusion:
GLBL ENERGY REG -S- (GED.L) was trading in a strong bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show no favorited direction,
recommend hold or waiting for entry .

Stock Resistance Levels : 121.89, 123.06, 124.00, 124.94, 128.00,.
Stock Support levels : 119.92, 114.92, 110.88, 106.83, 102.21, 93.75, 84.43,.

[doughboy66] 23/11/2011 07:29

I did a similar post on the AMER thread ,again the website i got this from can`t be right about no upward resistance surely>

I`m no chartist any thoughts anyone on where we could and i hasten could go from here before resistance is met.

Stock Trading Conclusion:
GLBL ENERGY REG -S- (GED.L) was trading in a strong bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : .
Stock Support levels : 118.39, 118.32, 113.68, 109.88, 106.07,.

[philo124] 22/11/2011 15:00

Up a bit, any volume? 127,000.

[foreverhoping] 22/11/2011 12:41

:-)'Baggy trousers' by Madness springs to mind

[philo124] 22/11/2011 12:31

I remember in The Great Escape...

[foreverhoping] 22/11/2011 12:28

good find bwanad,

the issue of sand disposal seems a pretty important part of the equation. CHOPS produces vast quantities of sand, and the costs of disposal are significant, along with the complications of finding a suitable disposal site/purpose, and (i'm guessing) obtaining environmental permits for such. More info required on this... still waiting on the info from Anna Williams, Director of Business Development at GED who is away till 28th Nov. Its great to diversify production away from relying on trucks in Llanos, but they may be still required to shift the sand!

[bigwavedave] 21/11/2011 16:29

Interesting share. Quiet mover.